Briefs

BUSINESS CONTINUITY

FINANCIAL SAFETY NETS DISCUSSION PAPER

The US Federal Reserve Bank of Philadelphia released a discussion paper in mid January on the effectiveness of financial safety nets in the aftermath of Hurricane Katrina.

The paper noted that one of the chief ways banks assisted people was to ease credit limits and credit terms for new loans.

The report authors wrote, "granting additional deferral periods for some borrowers in accordance with sound risk management practices may be appropriate given that

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